Investment Technology 1Q profit rises on higher commissions

NEW YORK—Investment Technology Group Inc.'s net income rose 34 percent on higher foreign revenue and commissions, the provider of electronic trading services said Thursday.

Net income for the three months ended March 31 climbed to $33 million or 75 cents per share, from $24.7 million, or 55 cents per share, in the year-ago period.

The result surpassed estimates on Wall Street, where analysts, on average, expected profit of 70 cents per share, according to a poll by Thomson Financial.

Revenue added 21 percent to $204.3 million, from $168.9 million last year. Foreign revenue accounted for $49.9 million of the total, and was 33 percent higher than a year ago. Commissions jumped 22 percent to $176.2 million.

Analysts expected revenue of $205.5 million.